Cryptocurrency

MicroStrategy acquires 3,000 Bitcoin for $155 million, expanding its cryptocurrency holdings.

MicroStrategy Acquires 3,000 Bitcoins for $155 Million

MicroStrategy’s Latest Bitcoin Purchase

MicroStrategy, led by Michael Saylor, recently bought an additional 3,000 Bitcoins for about $155 million. The acquisition, revealed in securities filings on Monday, was made at an average price of $51,813 per Bitcoin.

Market Response to MicroStrategy’s Move

The news of MicroStrategy’s Bitcoin purchase caused a positive stir in the market, with the company’s shares surging over 1.8% in premarket trading.

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MicroStrategy’s Impressive Bitcoin Portfolio

As of February 25, 2024, MicroStrategy now holds a total of 193,000 Bitcoins, acquired for approximately $6.09 billion. The average purchase price per Bitcoin stands at $31,544 for the company.

Valuation of MicroStrategy’s Bitcoin Holdings

Currently, based on prevailing market prices, MicroStrategy’s Bitcoin holdings are valued at just under $10 billion. This valuation represents a remarkable return of nearly 63% for the company.

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